China is planning to build vital trade and logistics links with Myanmar along the Ayeyarwady River as part of the China-Myanmar Economic Corridor (CMEC) to bypass poor road infrastructure. Proposed by China in November 2017 as part of its global Belt and Road Initiative, the CMEC is expected to connect China’s Yunnan Province with Mandalay […]
Myanmar Startups Receive Investor Funding to Expand
November 29, 2019 by
Kone Si, a Yangon-based on-demand trucking start-up, has received a six-digit sum investment for nationwide expansion from Yangon Capital Partners (YCP), a Myanmar-focused venture capital under Trust Venture Partners, a local financial advisory firm, and Nest Tech, Vietnam-based venture capital company. This is the second round of investment for Kone Si after it initially received […]
Speculative Yangon City Mega-Project Draws ‘White Elephant’ Concerns for Myanmar
November 29, 2019 by
YANGON: On the western bank of the muddy Hlaing River, development and prosperity is a distant view. It can be seen across the expanse of water in the rising apartment blocks, office buildings and grinding industry. Over there is Yangon proper, a city of some six million people and the economic hub of Myanmar. Over […]
Singapore Businesses see Myanmar as ‘Potential Gold Mine’
November 28, 2019 by
Myanmar is a “potential gold mine” and the “last frontier for” investors despite its low ranking in ease of doing business, said a Singaporean investor at a business to business matchmaking event in early November. MyanmarBizConnect Group, a local business matchmaking group, the Singapore’s Association of Small and Medium Enterprises (ASME) and Malaysia’s RHB Bank […]
Better Bank Services, Enforcement Needed for Remittance Licences to Work
November 28, 2019 by
In an attempt to shrink the volume of illegal money transfers between Myanmar and its neighbours, the Central Bank of Myanmar (CBM) last week announced the availability of official remittance licences. The move, which commenced on November 15, is aimed at facilitating the legal movement of money by traders and migrant workers based overseas into […]
Farmers have Shirked Loan Repayments Since 2012
November 27, 2019 by
Farmers who owe some K200 billion to state-owned Myanmar Agriculture Development Bank (MADB) have not repaid their debts since 2012, according to bank records. Most of the farmers are from Ayeyarwaddy, Bago and Yangon. “These farmers need to pay what they owe to the bank. Currently, our situation is such that savings levels have fallen […]
Lottery Ticket Price Increases due to other Expenses: Sale Agents
November 27, 2019 by
Lottery tickets prices are increased due to other expenses, according to lottery ticket sale agents. “We bought them from big lottery shops with the price of Ks1,097 per ticket. But we have to made packaging and we also cost rental fee and labour charges for shop,” said a sale agent of Moe Yan Shwe […]
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